I've noticed more and more companies are returning to the option of layaway. Personally, I have never used it, but when I sold jewelry, many customers did. I see the appeal for things like jewelry because the store isn't taking the risk and the items are small. Thus storage is not an issue.
There was a Sears commercial on that said you can layaway anything. The last thing I bought at Sears was a king-size bed. So how does it work? Do they really physically keep the item until I pay it off? In my case, I would probably decide to cancel and pay the $10 fee.
The only person I've known to use it, used it more like a bank account. LOL. They would put something on layaway and then go in 2 weeks later and change their mind to get the cash.
The debate: Is layaway a good idea from both the businesses' side and the customers' side? Or do people start to realize they can live without what they wanted? Is it just to get more business from people who can't get credit but can't save up money on their own?